Agree Realty Q2 AFFO $1.14, record investment $502M, raises 2026 guidance

AGREE REALTY CORP

AFFO per share $1.14 (+7.4% YoY); Core FFO $1.13 (+7.5% YoY); net income $0.44 (+2.2% YoY).
Record quarterly investment of $502M in 102 net lease properties; H1 total $925M.
2026 AFFO guidance raised to $4.57-$4.59 (from $4.54-$4.58); investment guidance raised to $1.6B-$1.8B.
Monthly dividend $0.267/share (+4.3% YoY); payout ratio ~70% of AFFO.
Portfolio 99.8% leased; proforma net debt/EBITDA 3.7x; liquidity $1.9B.

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